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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows Used in Operating Activities    
Net loss $ (2,602) $ (1,565)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 13 3
Amortization of intangible assets 43 7
Amortization of deferred loan costs 17 22
Amortization of right-of-use asset 10 0
Stock based compensation 5,792 141
Amortization of debt discount 77 116
Change in fair value of JV obligation 0 26
Provision for credit losses 4 0
Change in fair value of convertible notes (12,882) 0
Inducement loss on debt conversions 6,732 0
Change in fair value of warrant liability (398) 0
Unrealized loss on foreign currency transactions (127) 0
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (143) (1)
Inventory 373 0
Prepaid expenses and other current assets (841) 17
Other assets (7) 0
Accounts payable 1,722 496
Related party payables (60) 29
Accrued expenses and other current liabilities (496) 136
Accrued interest 243 116
Deferred revenue (13) 0
Operating lease obligation (8) 0
Net Cash Used in Operating Activities (2,551) (457)
Cash Flows Provided by Investing Activities    
Purchase of property and equipment (7) 0
Cash received in purchase of Inpixon 2,968 0
Purchase of intangible asset (3) 0
Net Cash Provided by Investing Activities 2,958 0
Cash Provided by Financing Activities    
Net proceeds from promissory notes 378 415
Net proceeds from loan from Inpixon (prior to merger) 1,012 0
Net proceeds from convertible notes 0 300
Net Cash Provided by Financing Activities 1,390 715
Effect of Foreign Exchange Rate on Changes on Cash (1) 0
Net Increase in Cash and Cash Equivalents 1,796 258
Cash and Cash Equivalents - Beginning of period 5 115
Cash and Cash Equivalents - End of period 1,801 373
Cash paid for:    
Interest 2 1
Income Taxes 4 0
Non-cash investing and financing activities    
Common shares issued for inducement of debt and accrued interest 5,637 0
Issuance of common stock for merger consideration, net of cash received 22,637 0
Right of use asset obtained in exchange for lease liability 394 0
Common shares issued for conversion of debt and accrued interest 3,959 0
Capital contribution - forgiveness of related party payable 380 0
Series 9 preferred stock dividend accrued $ 61 $ 0

Source

10-Q PDF
XBRL